Correlation Between Guangzhou Haige and V V
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By analyzing existing cross correlation between Guangzhou Haige Communications and V V Food, you can compare the effects of market volatilities on Guangzhou Haige and V V and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Guangzhou Haige with a short position of V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangzhou Haige and V V.
Diversification Opportunities for Guangzhou Haige and V V
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Guangzhou and 600300 is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou Haige Communications and V V Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V V Food and Guangzhou Haige is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Guangzhou Haige Communications are associated (or correlated) with V V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V V Food has no effect on the direction of Guangzhou Haige i.e., Guangzhou Haige and V V go up and down completely randomly.
Pair Corralation between Guangzhou Haige and V V
Assuming the 90 days trading horizon Guangzhou Haige Communications is expected to generate 1.56 times more return on investment than V V. However, Guangzhou Haige is 1.56 times more volatile than V V Food. It trades about 0.05 of its potential returns per unit of risk. V V Food is currently generating about 0.0 per unit of risk. If you would invest 778.00 in Guangzhou Haige Communications on September 12, 2024 and sell it today you would earn a total of 495.00 from holding Guangzhou Haige Communications or generate 63.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangzhou Haige Communications vs. V V Food
Performance |
| Timeline |
| Guangzhou Haige Comm |
| V V Food |
Guangzhou Haige and V V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangzhou Haige and V V
The main advantage of trading using opposite Guangzhou Haige and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangzhou Haige position performs unexpectedly, V V can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in V V will offset losses from the drop in V V's long position.| Guangzhou Haige vs. Gansu Jiu Steel | Guangzhou Haige vs. Shandong Mining Machinery | Guangzhou Haige vs. Aba Chemicals Corp | Guangzhou Haige vs. BlueFocus Communication Group |
| V V vs. Guangzhou Haige Communications | V V vs. Eastern Communications Co | V V vs. Orinko Advanced Plastics | V V vs. Dr Peng Telecom |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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